Finland applies for EU financial assistance for transport projects

Finland applies for EU financial assistance for transport projects

Finnish operators are applying for financial assistance for route and transport projects from the European Union’s Connecting Europe Facility (CEF). The application process is a so-called blending call in which entirely state-funded projects are ineligible for assistance. A blending call means that projects are required to involve financing in the form of private loans and generate returns on them. The total amount of support applied for is EUR 21.32 million.

The State of Finland participates in the applications concerning the improvement of the Vuosaari Harbour fairway and the Kouvola Rail-Road Terminal. The State is involved in the projects as the owner of the infrastructure and as a co-financer. The Cabinet Finance Committee adopted a favourable opinion on the applications on 28 June.

According to the indicative timeline released by the European Commission, the decision on granting CEF funding will be made in May 2018. Before this, steps will be taken to carry out an eligibility check of the projects, along with external and internal evaluations and a consultation of the CEF Coordination Committee.